Yes, bookmarks work for any mp3 or wma file. Bookmarks on the Fuze are automatically set on exit for any files that are in either the Audiobooks folder or the Podcasts folder. In addition, if you don't want to use those two folders, which you can't in the case of files on the card, as long as the file has a genre tag of 'audiobook' or 'podcast' it will also be bookmarked on exit. The next time those files are played, you will be prompted to either resume from the last position or start from the beginning. So you don't actually set bookmarks explicity with the Fuze. As long as the above parameters are met your files will be automatically bookmarked, no matter if they're audible files, mp3 files, or wma files.

Does the bookmark system in Fuze also save the playlist info? For example, if I set a bookmark in the 31st file in a audiobook playlist that has 150 files, will it keep going in the playlist when I bring up the bookmark or just the file?

I have a Creative Zen W that sets a bookmark but it only remembers the file but not the playlist so whenever I activate a bookmark, I finish listening to the file then I have to find my spot in the playlist and resume from there.

Yes, it only bookmarks the file. So, unfortunatley, if you are going to resume a audiobook you need to remember which track you were on. This actually promotes larger files over the many smaller files.

I've actually started condensing my audiobooks to larger files to adapt to this, and it hasn't been too bad.